Virgin Money reduces mortgage rates by up to 0.20%
- Two-year fixed rate at 90% LTV available from 2.99%
- Five-year fixed rate at 90% LTV available from 3.68%
- Two-year fixed rate at 70% LTV available from 1.99%
Virgin Money has announced a number of improvements to its mortgage range, reducing residential rates between 70% and 90% LTV by up to 0.20%. The new products will be available from Tuesday 8 September 2015.
Two-year fixed rate mortgage changes
- Two-year fixed rate at 70% LTV reduced by 0.05% to 1.99% (£995 product fee)
- Two-year fixed rate at 85% LTV reduced by 0.04% to 2.05% (£995 product fee, £300 cashback for purchases)
- Two-year fixed rate at 90% LTV reduced by 0.10% to 2.99% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)
Three-year fixed rate mortgage changes
- Three-year fixed rate at 85% LTV reduced by 0.20% to 2.55% (£995 product fee, £300 cashback for purchases)
- Three-year fixed rate at 90% LTV reduced by 0.04% to 3.45% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)
Five-year fixed rate mortgage changes
- Five-year fixed rate at 85% LTV reduced by 0.12% to 3.08% (£995 product fee, £300 cashback for purchases)
- Five-year fixed rate at 90% LTV reduced by 0.02% to 3.68% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)
Peter Rogerson, Virgin Money’s Commercial Director for Mortgages said: "We’re delighted to announce these latest reductions to our mortgage rates, which will particularly benefit borrowers with lower deposits. We are also continuing to waive the usual £99 application fee for a limited period, providing a further benefit to customers."
Full details of Virgin Money’s mortgage product range are available at www.virginmoney.com.
Virgin Money Press Office:
0191 279 4676
NOTES TO EDITORS
Early Repayment Charges
Following the fixed rate or tracker period, the loan will revert to Virgin Money’s Standard Variable Rate (SVR, currently 4.79%) for the life of the loan. On Everyday products, an Early Repayment Charge will apply to the outstanding secured loan balance at the time of redemption. Any overpayments in excess of the 10% annual allowance will also be subject to the Early Repayment Charge.
About Virgin Money
- Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
- Virgin Money’s business ambition is to make "everyone better off" – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to our shareholders
- Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving the not-for-profit online fundraising service, since 2010.
- The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit virginmoney.com/mortgages for full terms and conditions.
Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.